If you have an original Xbox ONE, then it's worth upgrading even if you don't have a 4k TV. There is a significant power boost.

If you have an Xbox ONE S, the issue isn't so clear. It depends on how actively you will be in getting new games over the next 3 or so years until the new Xbox version comes out.

Xbox ONE X needs to be plugged directly into the wall socket due to it having a surge protector built in. Microsoft says that plugging it into a surge protector will hinder performance. I can say that this is true, from my own experience.

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Microsoft has been buying up video game studios over the last 2 years, so expect to see some new Xbox exclusives.

The games I play tend to be either Xbox exclusives (Forza, etc) or cross-platform. Even though I do own a PS4, I don't really see a reason to have one over an Xbox, but I see having an Xbox over a PS4.

I don't like the PS4 controllers as they have to either be plugged in or directly recharged, whereas Xbox controllers can use swappable batteries or rechargeable batteries. With Xbox, I can play for more than 4 hours with wireless control, but not with the PS4.

I have man-hands, so the Xbox controllers fit my hands well, where the PS4 controllers feel small.